Blockchain property group Borderless Services Inc. made headlines in late Apr amid reports that it had placed a $700 meg bid to acquire concern news publisher Forbes Media LLC. In an interview with Cointelegraph, CEO Patrick McConlogue shed calorie-free on the acquisition target and why it aligns with the system'due south overall vision.

"Acquiring whatever company is a long procedure, and there are a lot of moving parts," McConlogue wrote in an e-mail, adding:

"Nosotros are excited to participate either as owners, partners, or combined force with the other bidders. Collectively nosotros all want Forbes back under United states of america ownership and are excited about the next 100 years of Forbes."

News of the potential acquisition was disclosed by Reuters in an Apr 29 publication. At the time, Forbes was said to be in talks to go public through a merger with a special purpose acquisition company, or SPAC. In addition to Borderless Services Inc., the news publisher was reportedly fielding involvement from a consortium led past Michael Moe, a well-known engineering science investor.

Forbes has been under majority control of Hong Kong-based Integrated Whale Media Investments since 2022. The investor grouping, which holds a 95% pale in Forbes, has been reportedly shopping the media company since at least 2022.

McConlogue, who also heads cryptocurrency blockchain interoperability protocol Overline Network, said Forbes would provide his organizations with much-needed content. "Nosotros already take some very big names to 'tweet' over the network when messaging goes online, but Forbes ensures there is always fresh data coming in," he wrote.

That information will come up in handy as Overline Network continues to expand its operations. The custom-congenital multichain network utilizes a proprietary consensus machinery called proof-of-distance, which is said to build upon Bitcoin'southward (BTC) proof-of-work model.

"With Overline and wireless mining, we desire to bring back the fun of the early days of Bitcoin mining by leveling the playing field again," McConlogue wrote, adding:

"Right now, mining crypto by and large means y'all are competing with considerable miners in Prc or Russian federation. With Overline'due south wireless mining, you are competing with miners at a maximum of 41 miles in any direction, so it localizes competition for global need and re-democratizes proof-of-work mining."

At the time of writing, no timetable has been given for when Integrated Whale Media Investments may decide to sell its stake in Forbes. In the meantime, McConlogue is seeking to disrupt the media industry using blockchain technology, and Forbes is simply one component of that vision.